A loan of $35,000 is made at 4.25% interest, compounded annually. after how many years will the amount due reach $57,000 or more? (use the calculator provided if necessary.)
Using this formula for compound interest, where A is total amount, P is the principal amount, R is the interest rate and n is the number of periods the amount is compounded
Let A be 57000, P be 35000 and r be 4.25 and solve the qn
